Asian shares advance on CPI-driven sentiment
Asian share markets made minimal earnings on Thursday. Investors were still cautious ahead of U.S. inflation figures, which could potentially drive the Federal Reserve to start an immediate talk about stimulus tapering.
MSCI’s broadest index of Asia-Pacific shares outside Japan secured 700.6 points, though still stagnant in the 698-712 point range it reached last May. Japan and Australia’s benchmark indexes both recorded a 0.4% increase, while China’s blue-chip index hiked 0.9%.
Wall Street had seen a mixed overnight session, with the S&P 500 closing near an all-time high in May. The Dow and the Nasdaq plunged 0.44% and 0.9% respectively.
Investors were optimistic that the United States’ consumer price index would expand around 0.4% in May. Should there be an increase, gold would very much benefit from it as impending taper talks could dim the yellow metal’s luster.